MGC1010 Study Guide - Final Guide: Henri Fayol, S.M.A.R.T., Management
8 Aug 2018
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Document Summary
Henri fayol proposed that there were 5 functions of management- planning, organising, leading, controlling and staffing. Deciding where you want to go and the best way to go about it. A plan is a statement of intended means for accomplishing objectives. (what) Operational plans = short range plans that are < 1 year (usually laid out to work towards a bigger goal) Tactical plans = intermediate plans of 1-2 years (implements the strategic plans) Strategic plans = long range plans that are > 3 years (they provide direction) Standing plans = plans that are unchanged and can be used repeatedly because they focus on recurring situations. Procedures = describe actions to be taken in specific situations. Rules = indicates acceptable behaviour and consequences. Single-use plans = plans that are used only once or a few times at most because they focus on unique or rare situations. Budgets = commits resources to projects or activities.
